PPI Company Fee but no money received
in Reclaim PPI & other insurance
3 replies 102 views
Ok so I was contacted by a PPI company years ago who managed to recover PPI money for me. However the company that were paying the PPI back (Capital One) kept the money as my debt with them (about 15 years before) had been partly paid off in full and final settlement and apparently they are entitled to keep any PPI claim.
As if that wasn’t bad enough the PPI company say I still have to pay their fee as they did the work and a claim was successful. I’m now lumbered with a £170 bill to pay and nothing for it.
I understand they’ve done the work but I thought I shouldn’t be out of pocket for it and only pay if I physically got the money in my hands. Really upset about this.
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It's not their concern that you still owed money to Capital One.
You should have just posted the letter yourself if you didn't want to pay £170 for a stamp.
They are entitled to keep the redress if there was an amount written off as part of the agreed settlement. i.e. you didn't pay the full debt but a reduced debt. The redress can go against that shortfall and if there is an excess then the excess comes to you.
That is also correct. Which is why, time and again, you see the warnings that you should not use a claims company where there are arrears, defaults, amounts written off as part of a settlement or bankruptcy.